BT INVESTMENT FUNDS
BT ADVISOR FUNDS
BT PYRAMID MUTUAL FUNDS
BT INSTITUTIONAL FUNDS
SUPPLEMENT TO STATEMENTS OF ADDITIONAL INFORMATION DATED JANUARY 31, 1997,
FEBRUARY 28, 1997, APRIL 1, 1997, AND MARCH 17, 1997
With respect to the ability of each Fund's respective Portfolio to purchase
shares of other open-end investment companies, the disclosure under
`Investment Restrictions-Additional Restrictions'' is revised to state
that the Portfolio may exceed the applicable percentage limits to the
extent permitted by an exemptive order of the Securities and Exchange
Commission. In addition, delete any operating policy to refrain from such
purchases, if applicable.
May 30, 1997
EDGEWOOD SERVICES, INC.
Distributor
Cusips:
International Equity Fund 055922868
Capital Appreciation Fund 055922819
Intermediate Tax-Free Fund 055922801
Utility Fund 055922884
Global High Yield Securities Fund 055922777
Pacific Basin Equity Fund 055922736
Latin American Equity Fund 055922785
Small Cap Fund 055922769
BT Investment Limited Term U.S. Government Securities Fund 055847305
BT Investment Equity 500 Index Fund 055847107
BT Investment Equity Appreciation Fund - Investment Class 055922751
BT Investment Equity Appreciation Fund - Advisor Class 055922694
Small Cap Index Fund - Advisor Class 05576L858
Small Cap Index Fund - Institutional Class 05576L882
EAFE Equity Index Fund - Advisor Class 05576L841
EAFE Equity Index Fund - Institutional Class 05576L874
U.S. Bond Index Fund - Advisor Class 05576L866
U.S. Bond Index Fund - Institutional Class 05576L700
International Equity Fund - Class I 055924856
International Equity Fund - Class II 055924849
Equity 500 Index Fund 055924500
(SUPPSAI-ALL) (5/97)
